The Taskforce on Nature-related Financial Disclosures Secretariat has responded to the European Commission’s consultation on draft amended European Sustainability Reporting Standards (ESRS), seeking changes to preserve robust assessment and disclosure of nature-related impacts, dependencies, risks and opportunities. The response continues its earlier input to EFRAG during the ESRS review under the European Union’s Omnibus package. The Secretariat recommends strengthening requirements for location-specific and contextual materiality assessments, including clearer references to the LEAP approach, and restoring references to dependencies on natural resources across the environmental standards. It also proposes directing companies to TNFD metrics after the removal of specified biodiversity metrics from ESRS E4, retaining secondary microplastics within pollution reporting and strengthening language on Free, Prior and Informed Consent for activities affecting Indigenous Peoples. The response supports requirements to report anticipated financial effects over the short, medium and long term on a comply or explain basis, as well as the inclusion of fair presentation. The amended ESRS are expected to be adopted through a delegated act later in 2026. The Secretariat then plans to work with EFRAG on an updated mapping between the ESRS and TNFD recommended disclosures and core global metrics.
2026-06-05Taskforce on Nature-related Financial Disclosures
Taskforce on Nature-related Financial Disclosures calls for stronger nature provisions in draft amended European Sustainability Reporting Standards
The Taskforce on Nature-related Financial Disclosures has called for stronger materiality assessments and fuller treatment of nature-related dependencies in the draft amended European Sustainability Reporting Standards. It also recommends references to TNFD metrics, coverage of secondary microplastics and stronger Indigenous Peoples’ consent language, while supporting anticipated financial effects reporting and fair presentation. An updated ESRS-TNFD mapping is planned after the standards are adopted.